01.20.23

E-invoicing threshold cut to 5 Crores will not yet apply in January 2023

In our previous release, we mentioned that e-invoicing would become mandatory for taxpayers with annual turnover exceeding Rs.5 crore in India, starting from 1st January 2023. 

 This was, however, clarified by the Central Board of Indirect Taxes and Customs (CBIC) on 26th  December 2022, that “There is no proposal before the Government, at present, to reduce this threshold limit to Rs 5 crore with effect from 01.01.2023, as no such recommendation has been made by GST Council as yet”.  

Tungsten Network has been offering compliant e-invoicing services in India since e-invoicing was introduced in 2019, and we will continue to monitor e-invoicing development in India.